Dollar index hits two-week high as data boosts Fed hike expectations
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar index climbed to a two-week high on Thursday after economic data showed the labor market remained on a solid footing, giving the Federal Reserve a possible cushion to continue raising interest rates. Weekly initial jobless claims decreased 26,000 to a seasonally adjusted 239,000,…
Dollar strengthens after ECB conference, yen stays soft
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index rose on Wednesday following comments from a host of global central bank leaders, including Federal Reserve Chair Jerome Powell, who did not rule out the possibility of another rate hike by the Fed at its next meeting in July. Powell, speaking at a…
Dollar weaker after data burst, euro rises on ECB comments
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar index retreated on Tuesday after a host of economic data releases indicated the U.S. economy remains resilient and may not be close to a recession, while the euro strengthened after comments from European Central Bank (ECB) President Christine Lagarde. The greenback retreated further after…
Dollar holds firm ahead of U.S. durable goods, housing data
By Rocky Swift TOKYO (Reuters) – The U.S. dollar held its ground against major currencies on Tuesday as tension in Russia simmered and traders looked ahead to U.S. data that may determine the timing of interest rate hikes. Russian President Vladimir Putin said on Monday he let an aborted mutiny go on as…
Dollar steady as investors ponder over global rates, economic outlook
By Rae Wee SINGAPORE (Reuters) – The dollar held near a one-week high against its major peers on Monday as traders weighed the impact of protracted monetary tightening cycles on the global growth outlook and as worries over a deep downturn in major economies lingered. Investors were also on guard after dramatic weekend…
Dollar rises as hawkish central banks dent risk sentiment, sterling slips
By Rae Wee SINGAPORE (Reuters) – The dollar drew support from a bout of risk aversion on Friday as hawkish comments from global central banks, including the Federal Reserve, stoked fears that their aggressive monetary tightening could push economies into a deeper downturn. Sterling struggled to hold gains from a larger-than-expected 50-basis-point rate…
Dollar weakens as Powell’s testimony offers little surprise; sterling steady
By Rae Wee SINGAPORE (Reuters) – The dollar languished near a one-month low against a basket of currencies on Thursday, after Federal Reserve Chair Jerome Powell stuck to his usual messaging at his semi-annual testimony, offering little room for surprise. Sterling was perched near a one-year high ahead of the Bank of England’s…
Dollar finds footing on housing data as yuan falters
By Tom Westbrook SINGAPORE (Reuters) – The U.S. dollar was firm in Asia trade on Wednesday following surprisingly strong U.S. housing data, while the yuan and Aussie dollar nursed losses and focus turned to Federal Reserve Chair Jerome Powell’s appearance before Congress later in the day. Single family housing starts surged 21.7% in…
Dollar buoyant; yuan wobbles after China cuts lending benchmarks
By Rae Wee SINGAPORE (Reuters) – The U.S. dollar rose broadly on Tuesday and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. China on Tuesday lowered its one-year and five-year loan prime rates (LPR) by…
Dollar drifts as traders weigh rate path; yen fragile
By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar was tentative on Monday as investors tried to assess the monetary policy path ahead after a raft of central bank meetings last week, while the yen was fragile in the wake of the Bank of Japan sticking to its ultra-easy policy. The dollar index,…
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